Housing Forward

The City of Tulsa has released a Request for Information (RFI) targeted to Tulsa housing developers to understand what projects may be on the horizon so the City can determine how to best disburse and/or bond all or a portion of the $75 million in Improve Our Tulsa (IOT) 3 housing funds. The RFI follows the work of the 3H TaskForce led by the City Council and Mayor and the Mayor’s executive order earlier this month that set housing as a priority and shifted resources to support the City’s goals surrounding housing. “Part of our work to get 6,000 affordable housing units online by 2028 is making sure we are in lockstep with our development community when it comes to knowing what projects are in the works,” Mayor Monroe Nichols said. “Having this knowledge not only makes sure funding is available when our developers need it, but it ensures our Housing Acceleration Team and others here at the City are ready to get these projects off the ground as quickly and efficiently as possible.” IOT 3 monies are projected to be collected over approximately 4.5 years beginning January 1, 2026, unless the City chooses to issue revenue bonds for advance funding, which would allow funds to be appropriated when bonds are sold. The City of Tulsa is considering bonding up to $35 million of the IOT 3 funds to immediately deploy toward selected development projects as early as this year, which would accelerate housing developments to meet Tulsa’s housing needs. “Tulsa voters have entrusted $75 million of their tax dollars to stimulate housing production to meet a 13,000 unit demand,” said Phil Lakin, Jr., chair of the Tulsa City Council. “The City must rely on and partner with the private sector in order to meet this demand. Our resources will leverage other funds and provide access to working capital at reasonable or below-market rates so affordable housing can be built sooner rather than later.” One of the decisions will be how to best allocate the portion of bonded funds to go toward one or more of the following housing programs: • Housing Grant Fund: Leverage other programs, such as the Low-Income • Housing Tax Credit (LIHTC) to increase the supply of affordable housing for households at or below the 60% area median income. • Housing Investment Fund: Deploy revolving funds to increase the supply of affordable housing for households earning up to 120% of the area median income. • Housing Acquisition Fund: Acquire strategic sites across the city to produce housing units. • Housing Infrastructure: Invest in strategic areas where increase in capacity could enable more housing development with focus on projects that will utilize existing public infrastructure. • Housing Preservation & Rehabilitation: Preserve housing by investing in the rehabilitation of vacant and abandoned housing units. To see more information about the RFI visit https://lnkd.in/gMhnyMuH

Today, Mayor Nichols issued an executive order establishing housing as a priority for the City of Tulsa. This executive order is aimed at addressing the Mayor's goals, which include: ⦁ Increasing affordable housing stock by 6,000 units by 2028 ⦁ Reducing blighted (unsafe, unsightly) properties by 60% by 2028 ⦁ Reducing the cost burden taken on by developers to produce more housing “As we work to increase access to affordable housing by eliminating development barriers, it is critical that we establish a bold and strategic direction for ourselves,” Mayor Nichols said. “By issuing this executive order, we are sending a message to Tulsans that meeting our most pressing needs is more than just talk - it’s about building stronger systems, speeding up processes, and making it easier for us to meet our housing goals.” “This is a big step forward for the City of Tulsa, and I’m proud to work alongside Mayor Nichols and the City staff as we work to tackle some of Tulsa’s biggest challenges around housing,” said Gene Bulmash, the City’s Senior Advisor of Housing. “Over the course of the next several months, we will be working to put systems in place that help us achieve additional housing units and faster development processes.” In addition to setting housing as a priority for the city, these actions are intended to align with the previous work of the 3H Task Force Path to Home Recommendations. Collaboration and discussions with the Tulsa City Council will continue as these initiatives are implemented.  Ultimately, this Executive Order establishes the following: ⦁ Create a Housing Acceleration Team that will develop permanent improvements to all building permit, inspection requests, and zoning applications ⦁ Launch a Housing Permitting Tracker on the City's website this spring to identify the progress the City is making on increasing affordable housing stock ⦁ Launch a Community Builder Pilot Program to encourage housing rehabilitation efforts by partnering with, and rewarding, developers for their efforts to increase housing stock, and, ⦁ Present a path forward on best funding mechanisms to leverage public and private dollars for housing related to the latest Improve Our Tulsa program. You can read the full press release online at https://lnkd.in/d5kQHdjb To see more about Mayor Nichols’ core goals, visit www.cityoftulsa.org/mayor.

A heartfelt thank you to Tulsa for the incredible welcome this week! We were honored to be introduced to the community and share our vision for addressing the city’s affordable housing needs. We’re grateful for the leadership of Mayor Monroe Nichols and the partnership of The Anne & Henry Zarrow Foundation and CDFI Friendly Tulsa, who understand that housing is more than a roof—it’s the foundation for strong, healthy communities. This week was the start of a promising collaboration, and we’re excited to be part of the solutions that will shape Tulsa’s future. Public Radio Tulsa covered the event: https://lnkd.in/e8_CsUJj #MissionDriven #CommunityBuilding #AffordableHousing